Twenty-Two Cents: Muhammad Yunus and the Village Bank - Hardcover

Yoo, Paula

Hardcover

ISBN 10: 160060658X ISBN 13: 9781600606588

Publisher: Lee & Low Books, 2014

Synopsis

Growing up in Bangladesh, Muhammad Yunus witnessed extreme poverty all around and was determined to eradicate it. In 1976, as an Economics professor, Muhammad met a young craftswoman in the village of Jobra who needed to borrow five taka (twenty-two cents) to buy materials. No bank would lend such a small amount to an uneducated woman, so she was forced to borrow from corrupt lenders who charged an unfair interest rate, and left her without enough profit to buy food. Muhammad realized that what stood in the way of her financial security was just a few cents. Inspired, Muhammad founded Grameen Bank where people could borrow small amounts of money to start a job, and then pay back the bank without exorbitant interest charges. Over the next few years, Muhammad’s compassion and determination changed the lives of millions of people by loaning the equivalent of more than ten billion US dollars in micro-credit. This has also served to advocate and empower the poor, especially women, who often have limited options. Twenty-two Cents is an inspiring story of economic innovation and a celebration of how one person—like one small loan—can make a positive difference in the lives of many.

About this title

About the Author

Paula Yoo is an author and a screenwriter. She is the author of Shining Star. She lives with her family in Los Angeles.
Jamel Akib's award-winning artwork has appeared in several picture books including Bringing Asha Home. He lives in Salisbury, England.

From School Library Journal

Gr 2–5—This poignant picture book biography describes Muhammad Yunus, the man who developed microcredit, or the economic movement that gives small loans to the impoverished and that is breaking the cycle of rural poverty around the world. Born into a middle-class family in what is now Bangladesh in 1940, Yunus studied economics in America as a Fulbright scholar, where he saw Vietnam War protests and was "impressed by the students' belief that they could make a difference." Returning to Bangladesh after its brutal war for independence, Yunus was overwhelmed by resulting poverty, drought, and exploitation by moneylenders. He met a struggling craftswoman. Though she only needed 22 cents, she was denied a loan because her illiteracy and poverty made her a "banking untouchable." In response, he founded Grameen (Village) Bank to make small loans to the poor, and the concept of microcredit was born. Honored in 2006 with a Nobel Peace Prize, Yunus accepted and in his speech celebrated "the hundreds of millions of women all around the world who struggle every day to make a living and bring hope for a better life for their children." Yoo's text is straightforward and detailed, and her story of a true hero of the modern world will resonate with students, while the accompanying illustrations enhance the narrative through line and color in soft chalk pastels. Back matter includes a bibliography of sources, an afterword with information about poverty in America, and an update on Yunus's life since his retirement in 2011. This hopeful and inspiring tale sheds light on an important but little-known subject who made a huge difference.—Toby Rajput, National Louis University, Skokie, IL

About this edition

• Publisher: Lee & Low Books
• Publication date: 2014
• ISBN 10: 160060658X
• ISBN 13: 9781600606588
• Binding: Hardcover
• Number of pages: 40
• Illustrator: Akib Jamel